More staff to go as Priceline refocuses business

US-based group-buying site Priceline.com is sacking 48 staff in the second round of redundancies in six weeks.

The company said in a statement it will lay off 11 per cent of its total workforce in the US in an attempt to refocus its core business to travel sales. The company has also suspended plans to expand into the cellular telephone market and the B2B arena. Early last month, Priceline.com fired 16 per cent of its 535-strong workforce and saw the resignation of CFO Heidi Miller. The firm also had to close one of its reverse auction sites in September when it ran out of money. The service, WebHouse Club, had been up and running for two years and allowed users to bid for food and petrol. Priceline.com's stocks have tumbled 96 per cent since floatation earlier this year.